Law Assignment #1 Real Property

Law Assignment #1 Real Property

Issue

The issue in this case falls under the State laws applicable in Boring, Oregon. Under the applicable contract law, in cases involving reward offers, the person must pay off the reward. Bart agreed to offer a reward on the return of his lost property. Could Bart be retracted from paying off the reward; as it is Alan's duty to return the property. Can Alan place a condition for the return. In the light of applicable laws in Boring, Oregon and major court precedents; we would attempt to find probable alternatives that could be imposed by a Court of law.

Rule

Under the State laws applicable in Boring, Oregon; both the finder of the property and the actual owner possess their rights. According to the Oregon Revised Statues (2012):

The ORS § 98.005 (2011) Title 10 under the Property Rights & Transactions of Abandoned Property. The duties and rights of the owner and the finder of the lost property are enforced under the 98.005 Rights & duties under the Oregon Revised Statues.

The section 489 U.S. 1011, 109 S. Ct. 1120, 103 L. Ed. 2d 183, 1989 under Oregon laws covers the rights of the property owner in cases if the property is misplaced or lost.

The present legislations on Real Property and Contract law clearly hold” that the finder of the lost property must find the actual owner of the property.

The law § 98.005 allows the finder to claim the found property if the owner could not be located. In cases, if the owner is known. The finder must return the property. Oregon state legislature holds that the finder of property must take an initiative and turn over the property to law enforcement officials to avoid any legal consequences.

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